Bill Gates believes a billionaire’s tax is the only option in the age of AI—and ‘whatever’s left over’ can be used as a philanthropic safety net
Fortune · Eleanor Pringle ·
Microsoft co-founder Bill Gates said philanthropy cannot be relied on as a safety net for wealth inequality in the age of AI.
The stock rout of the past 24 hours may have wiped billions from the net worths of the world’s wealthiest people. Still, the hiccup will do little to dissuade economists from believing that artificial intelligence will be a major driver of wealth gains in the coming years.
And while proposals for a billionaire’s tax have proved divisive in states like California, Microsoft co-founder Bill Gates suggests a similar policy is likely the best way forward in the age of AI.
Already, the fortunes of individuals who have founded AI or AI-adjacent companies have boomed, and the wealth effects for families invested in those companies promise to be significant.